The Inox Green Energy Services Limited IPO subscription was open from 11th to 15th November 2022, within which retail investors made their applications to invest in shares of the company. This IPO’s price band ranged between Rs. 61 to Rs. 65 per share. The minimum lot size for subscription in this IPO was 230 shares.
Inox Green Energy Services IPO allotment is expected to be out today, November 18. The latest known GMP (grey market premium) of the company’s shares is Rs. 2. The issue was subscribed 1.55 times.
Investors can check Inox Green Energy Services IPO allotment status as per the steps and details given below.
What is IPO allotment?
As part of any IPO allotment process, the offer’s registrar allocates the company’s shares to bidders who have made an application for an IPO subscription. In most large-cap IPOs, this process generally takes a week from the IPO release date. For small-cap IPOs, it may take longer, especially in case the IPO subscription does not reach the threshold requirement.
Read more: Difference between New Fund Offer (NFO) and Initial Public Offer (IPO)
Allotment date of Inox Green Energy Services IPO
The allotment date for Inox Green Energy Services Ltd IPO is 18th November 2022. As per market observers, the issue’s grey market premium (GMP) was about Rs. 4. This means the shares of the company were available at a premium to the issue price band of Rs. 61-65.
The retail portion of Inox Green Energy Services IPO was fully subscribed and the issue’s retail portion was over-subscribed 3.86 times on the last day of bidding process.
What is the process to check IPO application status?
IPO allotment status contains details, such as the total number of shares allotted to a bidder or investor. To check the status of the allotment, investors must wait until the IPO allotment date. The information is released to the public on the IPO registrar’s website post this date. IPO applicants or bidders can check their application status online through the BSE or NSE websites. An applicant can also check the status on the official registrar’s website. Investors or IPO subscription applicants can also know about the IPO allotment status through emails or SMS sent by BSE, NSE, CDSL, or NSDL.
Steps to check IPO allotment status on the Fisdom app
On the Fisdom app, an investor can check the allotment status of an IPO by going to his/her Order Book once the allotment process is complete.
Read more: 6 things to keep in mind while investing in IPOs/
Steps to check IPO allotment status on the BSE website
Investors who have bid for the IPO can check the allotment status through the Bombay Stock Exchange (BSE) website by following the steps mentioned below:
- Go to the BSE website – https://www.bseindia.com/investors/appli_check.aspx
- Within the option of issue type, select ‘Equity’
- In the ‘issue name’ section, choose Inox Green Energy Services Limited from the dropbox
- Mention the application number
- Provide PAN details
- Select ‘I am not a Robot’ and click on submit to check the status
Steps to check IPO allotment status by visiting the Registrar of the issue
The Registrar of the issue for Inox Green Energy Services Limited IPO is Link Intime India Private Limited. To check the status of allotment with the Registrar of the issue, here are the steps to be followed.
- Visit the Link Intime India IPO allotment status webpage through the following link, https://linkintime.co.in/MIPO/ipoallotment.html
- Select Inox Green Energy Services Limited IPO from the dropdown menu
- Investors can choose either PAN Number, Application Number, or DP Client ID to check the status of allotment.
- Click ‘Search’ to check the allotment status.
About Inox Green Energy Services Limited IPO
Inox Green Energy Services Limited belongs to the green energy Sector and was incorporated in 2012. The company is a leading name in providing wind operation and maintenance (O&M) services in the country for wind farm projects, especially for Wind Turbine Generators (WTGs) as well as towards common infrastructure facilities on the wind farms supporting the evacuation of power from the WTGs.
The company is primarily present in Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu, and Kerala. The company provides long-term O&M contracts (ranging between 5 years to 20 years) to all the WTG purchases which are made through IWL (Inox Wind Limited). As of June 2022, the company has a 2792 MW of wind farm capacity and 1396 wind turbine generators.
Conclusion
With multiple IPOs being launched in India in the last few years, these tend to attract significant media attention and interest. Many IPOs see large-scale subscriptions from both retail investors and large institutional investors.
The Inox Green Energy Services IPO allotment update today will be used by market experts as an indicator of the overall investor interest levels that the company has managed to attract in the market. Companies usually share IPO calendars to keep investors informed about the chronology of IPO events. Post the IPO allotment, the company’s shares are listed on the stock exchange for trading.
FAQs
IPO allotment generally takes 7 days from the IPO offer release date. Inox Green Energy Services IPO allotment is expected to be finalised on 18 November.
IPO allotment status is generally updated on the IPO registrar’s website. Subscribers or bidders of Inox Green Energy Services IPO must provide their PAN number or IPO application number to check the allotment status. Allotment information will also be sent to applicants via email or SMS notifications by BSE, NSE, NSDL, or CDSL.
If you get allotment of Inox Green Energy Services IPO shares, you should receive a Confirmatory Allotment Note (CAN) within 15 days from the IPO issue closure as per SEBI guidelines. If shares are not allotted, the refund will be processed within 15 days from the issue closure date.
No, IPO allotment is not based on who applied first. It is allotted as per the response received from investors. If the IPO does not attract investor interest and remains under-subscribed, there are higher chances of allotment for those who apply. In the case of oversubscription, the IPO allotment is calculated as per the number of shares available for retail investors divided by the minimum lot size.
IPO share allotment is not guaranteed since it depends on the level of subscription and investor interest received.
